|Bid||292.65 x 800|
|Ask||295.79 x 1200|
|Day's Range||288.56 - 296.34|
|52 Week Range||231.23 - 385.99|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||94.26|
|Earnings Date||Jan. 15, 2020 - Jan. 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||361.63|
(Bloomberg) -- Walt Disney Co. launched its much-anticipated Disney+ platform early Tuesday morning, embarking on an effort to turn a nearly century-old entertainment giant into a streaming leader.The service became available for at least some users sometime after 1 a.m. New York time, earlier than the 6 a.m. launch that had been touted in a countdown clock.Disney is entering a market already crowded with heavy hitters, including Netflix Inc., Amazon.com and Apple Inc. And more rivals are diving in soon, such as AT&T Inc. and Comcast Corp. next year. The world’s largest entertainment company thinks it can seize the day with a product packed with the company’s best movies and TV shows, including “Star Wars,” Marvel and Pixar films, as well as its library of some 400 children’s movies.“I feel great about what we’ve done,” Chief Executive Officer Bob Iger told a roomful of reporters last week. “I love the app. It’s rich in content. It’s rich in brands. It’s rich in library.”Priced at $7 a month, Disney+ is a bet that the company can attract as many as 90 million subscribers worldwide in five years.It already has some key allies. Some 19 million Verizon Communications Inc. customers will be able to get the service free for the first year, thanks to a deal Disney cut with the carrier. Disney fan club members, meanwhile, got to prepay for a three-year subscription for less than $4 a month.“These are deals you just can’t beat,” said Kevin Mayer, who heads Disney’s direct-to-consumer division and has helped craft the streaming strategy.Disney is looking to make the product accessible to as many people as possible. Customers will get to store their password in as many as 10 devices per family and watch four concurrent streams of movies or shows.The site is designed around five main “tiles,” named after the company’s key brands, including Marvel and the recently acquired National Geographic channel. Disney is spending $1 billion on new programming -- such as “The Mandalorian,” the first live-action “Star Wars” series -- in the first year alone. Disney+ also will offer the “Star Wars” movies in 4K definition video for the first time.Unlike Netflix, which releases new seasons of programs all at once. Disney+ will put out one episode per week for its original shows. The programs will come out at 12 a.m. Pacific time on Fridays -- timing geared toward attracting a global audience, according to Ricky Strauss, Disney’s head of content and marketing for the product.A key part of Disney’s streaming strategy is bundling its services together. For $12.99, subscribers can get a package that includes Disney+, ESPN+ and the ad-supported version of Hulu. Those three services would cost about $18 a month if purchased individually.It’s all coming at great cost to the company. Mayer’s direct-to-consumer division saw its losses more than double to $740 million in the quarter that ended in September. The company doesn’t expect to make a profit on Disney+ for at least five years.But the marketing blitz for the new service seems to have paid off. UBS Group AG analyst John Hodulik surveyed more than 1,000 consumers in October and found some 86% had heard of Disney+. Nearly half were likely to subscribe.The company created its largest cross-promotional push ever, putting solicitations for the new service in Disney-owned hotels and its radio network. Disney also promoted the new service on ESPN’s “Monday Night Football.” Fans watched a preview of Disney+’s new “High School Musical” spinoff on ABC on Friday.“If you haven’t heard about Disney+ by Tuesday,” Strauss said last week. “I promise you will.”Among the new originals on the show is a live-action version of “Lady and the Tramp.” Normally a remake of a classic like that would get a big premiere, a theatrical run and advertising everywhere.In the streaming era, it gets dropped on a Tuesday morning. The question now is whether the Disney magic still comes through without the Hollywood glamour.Either way, Disney doesn’t have much of a choice, said David Yoffie, a professor at Harvard Business School.“Netflix has changed the nature of the game,” Yoffie said. “If they didn’t participate, they would be left behind.”(Updates with executive comments starting in fourth paragraph)To contact the reporters on this story: Christopher Palmeri in Los Angeles at firstname.lastname@example.org;Scott Moritz in New York at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Associate Stock Strategist Ben Rains dives into some of Disney's recent quarterly results, before we look at Disney+ and discuss which company, from Netflix to Amazon might win the streaming TV war...
(Bloomberg Opinion) -- The global debate on innovation and regulation is about to take a new turn with a Turkish plan for an all-encompassing digital tax. The tax, which is expected to be approved by parliament this week, will apply not only to electronic marketplaces like eBay and digital-advertising giants like Google and Facebook, but also to e-commerce platforms involved in the sale of digital goods and services, like Spotify and Netflix. This goes beyond the scope of the French digital tax which entered into force a few months ago and the abortive European Union proposal of last year. Turkey’s proposed tax has rekindled the debate on the fairness of globalization and the role of international governance. The severity of the regulatory framework being contemplated is in many ways a by-product of the failure of multilateralism and its inability to redress the grievances of nations that perceive the system as being rigged against their economic interest.National governments have long grappled with the need to tax the digital behemoths. Authorities in Europe and in the emerging world are seeking a formula that would give them tax revenues that reflect the share of business conducted by these global companies on their territory. They’ve tried direct negotiations with companies, with mixed results. In the absence of common taxation rules applicable in all relevant jurisdictions for cross-border digital transactions, there have been several non-replicable, non-transparent individual deals between governments and companies. The companies have failed to achieve their aim of policy and tax predictability, governments have struggled to get the buy-in of companies for easily transposable settlements. You’d think the disparate approach to taxing internet-enabled business models and its impact on the distributional benefits of globalisation would provide an ideal opportunity for multilateral governance to demonstrate its effectiveness. The G-20, in summit declaration at Buenos Aires, has acknowledged the importance of a global deal on digital taxation. The Organization for Economic Cooperation and Development has advanced an agenda for a set of common rules. But multilateralism has so far failed to produce the consensus needed to address ongoing divisions—whether between companies and governments, or between nations like the U.S. and China, that have nurtured large digital companies, and the rest of the world, The failure of the multilateral track has now provided an opening for non-consensual and protectionist digital policies to emerge. What can be witnessed in this area is a race to the bottom. Following the example set by France, Turkey is seeking to tax digital companies at 7.5%, more than double the French rate. What’s more, the tax is to apply regardless of whether the companies are profitable or not. It is not clear whether the proposed measures comply with Turkey’s international obligations under the World Trade Organization, or under its bilateral tax treaties. Even if they are, there are concerns that a digital tax would serve as a disincentive for foreign investment in a booming industry where Turkey had succeeded in creating a dynamic ecosystem. Turkey is home to highly successful mobile-gaming creators, as well as Turkish-language Android and IOS apps.Even so, there’s a good chance the Turkish example will be followed by governments in other emerging nations that believe that the industrialized world—and by extension, the multilateral system—has for too long been unresponsive to their anxieties about the consequences of unfair globalisation. A fragmentation of global regulations affecting the digital economy is afoot.The multilateral institutions may have one last chance to stop the trend. The OECD is holding a stakeholders meeting this week to gather views on its proposed approach to taxing the digital economy. The plan is for a set of proposals to be formally adopted by the G-20 at its meeting in Riyadh next year. But any agreement will be conditional on the Trump administration demonstrating flexibility toward the expectations of the other OECD nations. The hope is that the U.S. will ultimately see that a set of common tax rules, even if it would impact the few American digital giants, would still be a better outcome for the global economy than a grab-bag of divergent approaches to regulating and taxing digital entrepreneurship.To contact the author of this story: Sinan Ulgen at email@example.comTo contact the editor responsible for this story: Bobby Ghosh at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sinan Ulgen is the executive chairman of Istanbul-based think tank EDAM and a visiting scholar at Carnegie Europe in Brussels.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Streaming giants and cable companies, led by Netflix (NFLX) and HBO, are reportedly considering ways to crack down on password sharing among streaming users. Netflix Co-Founder & First Netflix CEO Marc Randolph joined Yahoo Finance’s YFi PM to discuss.
LGBTQ Loyalty Holdings recently launched an index comprised of 100 LGBTQ equality-driven companies. The index includes Cisco Systems, Coca-Cola, Apple, Microsoft, Amazon, and Netflix.
Investing.com -- China's external trade improves, and Germany's exporters likely kept Europe's largest economy out of recession in the third quarter. Meanwhile Disney's traditional strength in movies is helping it shoulder the high costs of rolling out its Netflix-killer Disney+. Here's what you need to know in financial markets on Friday, 8th November.
Disney’s better-than-expected fiscal fourth quarter financial results and Gap’s c-suite shakeup will take the spotlight Friday.
The latest U.S.-China trade war news that could see the world's two largest economies roll back tariffs. Q3 earnings results from the likes of Qualcomm and Square. And why Yeti is a Zacks Rank 1 (Strong Buy) stock...
Throughout Netflix’s journey to streaming dominance, famed short-seller Citron has been quick douse overzealous investor optimism. Much of the optimism from the call on Netflix (NASDAQ:NFLX) has to do with the streaming giant's strong content slate and international growth, both of which will could boosts shares back to $350, according to Citron. Netflix rose 1.7%.
Netflix has a new tough critic: the sovereign Republic of Poland. Prime Minister Mateusz Morawiecki filed a complaint this week, asking the U.S. streaming service to make changes to its documentary series “The Devil Next Door” about a Nazi death camp guard who moved to the United States. At issue is a map used in the documentary showing Nazi death camps inside the borders of modern Poland. Concentration camps were built by the Nazis on Polish soil during World War Two, but Morawiecki says the map implied that Poland existed at that time as an independent nation and thus could share responsibility for the Holocaust. In a letter to Netflix CEO Reed Hastings, the Polish Prime Minister said: “As my country did not even exist at that time as an independent state, and millions of Poles were murdered at these sites, this element of “The Devil Next Door” is nothing short of rewriting history.” A Netflix spokesperson told Reuters the company is aware of the concerns and is urgently looking into the matter. Poland is very sensitive to suggestions that it might share any complicity in Nazi crimes committed on its territory. Many in Poland still refuse to accept research showing that thousands of Poles participated in the Holocaust in addition to the thousands who risked their lives to help Jews escape the atrocities.
Nov.08 -- Streaming services are discussing measures to close a loophole that could be costing them billions of dollars a year. Bloomberg's Lucas Shaw reports on 'Bloomberg Technology.'
Nov.07 -- Providence Equity Partners Chief Executive Officer Jonathan Nelson sits down with Bloomberg’s Jason Kelly at The Year Ahead Summit in New York for an in-depth discussion about private equity’s role in the battle of the streaming giants.
Nov.07 -- Bloomberg Intelligence Media and Technology Analyst Geetha Ranganathan presents BI’s latest research on the streaming wars and what it means for investors, consumers at The Year Ahead Summit in New York.